Panmure Gordon (UK) has completed the acquisition Charles Stanley Securities (CSS), the investment banking division of Charles Stanley Group.
Charles Stanley Securities offers advisory, broking and research services to the small and mid-cap sector in the UK.
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The deal, which was first announced on 17 June 2015, will lead to a significant increase in the overall size of the CSS’ portfolio of corporate clients.
Panmure Gordon CEO Phillip Wale said: "We are delighted to welcome our new colleagues at an exciting time for Panmure Gordon as we grow the Company and focus firmly on serving our corporate and institutional clients and on improving value for our shareholders."
The sale is part of Charles Stanley chief executive Paul Abberley’s plans to streamline and overhaul the business, which reported a loss of £6.1m for the year to 31 March 2015.
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